6 comments

You make a full payment, but because you owe them a late charge, or any one of their other "extra" fees, they do not credit your payment to your account. Rather they put it in a "suspense" account. Next month you pay the full payment again and they also put your payment in the "suspense" account. Now you owe them only ~$150 in reality, but since all your money is in the suspense account, they say you are 2 months in arrears and they foreclose on you. You will never see the money in the "suspense" account. It all goes into "legal" and other "fees".

This is a hideous bank that never answers the phone promptly, tells you they want to help, and after you fill out copious forms, they tell you sorry - can't help.

Indymac Bank deserves to go out of business. Their management deserves to go to some more despicable place.

Had an Experience with IndyMac Bank?

Write a review

Comments

Terms of Service
Post Comment
Cancel
Anonymous
#111920

Chase bank is doing this to me right now.My escrow went up and didnt tell me.

They keep telling me Im behing on two months payments and charging me late fees when they have my money is a suspence account because I was short the diferance it went up without me knowing. I spoke (or tried to) with three different people at the bank, all spoke HORRABLE english and didnt give a ***. They just told me I need to make a payment and didnt understand that they have my payment.

Is this legal??How can they charge me late fees when thay are the ones not applying my money to my payment??????

Anonymous
#111329

I offered a fail price under their listing price and was countered by 50k more than their listing price.Bargaining in good faith, I think not.

Stay far away until the dust settles with this shell game.One other friend had a similar instance with OneWest.

Anonymous
Quilpue, Valparaiso, Chile #28108

I had no problem with Indy Mac.We are behind and yes the hold money in suspense accounts but that is because we are paying gradually and they have been extremely great about it.

I communicate via email and they have responded most times. They are very courteous to me always and we had fallen quite a bit back. As for safety, the fed opened the window to help them so it is now Indy Mac Federal bank. The employees do the best they can to answer questions.

That's the best they can do. It is better than foreclosing.

Try to stay calm, there are many that are yelling and these people do not make the rules, they follow them.Ask and they will answer.

Anonymous
Hearst, Ontario, Canada #22307

I can tell you right now that we don't put your funds in suspense if you owe a late fee or any other kind of fee for that matter.The only time funds go into the "suspense account" is when you don't pay the full P&I payment plus any escrow payment you may have.

We can not accept partial payments but as long as you send in what's billed, with fees or without, it will apply as a monthly payment. I'm sure you called customer service and didn't listen to the CSR explain this to you because anyone who works there knows this.

It's angry people like yourself who call us, bi*** and moan, scream into the phone and then don't actually listen to the response we give you.Cry me a river, if you have a question about how your payment is applied just call and ask like a decent human being, don't scream and complain then not listen.

cko
Wales, England, United Kingdom #22075

foreclosure doesn't happen after 2 months, it takes 3 to even begin it. you are warned after 2 months yes, but thats not the same thing. so i dont know what you are talking about. i have a loan myself, and whatever name indymac chose to give said suspense account, i can guarantee you most other companies have a similar thing. its not a scam. sometimes it takes some extra investigation to find out what the cause is, but i can guarantee you that if you were to talk, not yell and whine, to them, you may be able to come up with some sort of solution. the suspense account is put in place because sometimes people dont send in enough funds, and most of these systems dont know how to apply a partial payment. it is rare that they are misused, and they exist for a purpose. this purpose is not to *** over.

as far as indymac deserving to go out of business, i understand the anger, but seriously, what about the few thousand people who are freaking out right now about their jobs? mortgage companies are tied to whatever guidelines the investors give them as far as helping and im sorry, but if you dont make enough money to cover your mortgage or bills, what do you want them to do, give you the house for free? whatever man, its not going to happen. . the management can only do so much. why do you think you are so special that any company wants to ruin your life specifically? and yet you think its acceptable to wish bad things on people simply because you dont get the answers you...

the world is a scary place, and its important to stop living beyond your means. if that means you cant afford your house, its time to fess up to that fact and move on.

Show more
Anonymous
Harlingen, Friesland, Netherlands #22047

I've had a home lone with IMB since '05.They're in Cali and I'm in FL and I had no idea that people had this kind of problem with them.

My builder recommended them and they gave me a great rate for my lack of credit history. (I was 25 and just married) All I was able to hear about them was positive about how long they've been around and how they are the leader in construction loans. No local banks/ Credit Unions would even talk to my husband and I. I've never had the problem that you post about above, I had one late payment, but they still credited it and just put the late fee charge on the next bill...

I'm stressing about my loan. What will happen. Thank God I don't have an ARM, but if they sell it? WTF happens?

I know there are laws to protect us, but the gov't is so messed up. WHAT DO I DO???

I'm one of the responsible mortgage holders.The only late payment I made was 2 minutes after midnight on the last day to pay.

You May Also Like

ADVENTURES IN PAY PAL LAND SYNCHRONY BANK GE CAPITAL RETAIL BANK CONTINUE TO PUT THE SCREWS TO ITS CUSTOMERS Ge Capital Retail Bank "Please look at the uploaded documents so that you can see what I'm talking about. I do not understand why "The Consumer Financial Protection Bureau" closed their files on..." Read more Scotiabank - Where is MY money?!? Scotiabank "...Nothing was being done to correct this situation except for Scotiabank representatives asking me to be "patient"..." Read more Ge Capital Retail Bank - GE CAPITAL/PAYPAL BRAZEN LIE NOT EVEN THE USPS IS SAFE Ge Capital Retail Bank "This is how brazen GE Capital Retail Bank/Pay Pal Smart Connect/Pay Pal has gotten. They have been allowed to lie, steal, defraud, commit fraud, steal money, hide money, etc., etc...." Read more Ge Capital Retail Bank - DEFRUADING THE UNITED STATES POSTAL SERVICE Ge Capital Retail Bank "GE Capital Retail Money Bank/PayPal Smart Connect/PayPal have been using the United States Postal Service to "Defraud" the consumer. I have been dealing with this since 2011 & these "Crooked"..." Read more Little Caesars - Nasty/ unprofessional Little Caesars "I just wanted to say that Sarah heckman Dean needs to be fired. She talks to her employees any type of way. She cusses at them and calls them names...." Read more West Elm - Terrible Quality.  Terrible customer service.  West Elm "Do not purchase this couch!!! I have only had my Crosby Sectional for two years and the zipper on the cushions has already broken. No one,and I mean NO one,..." Read more Poshmark - Purposely deceived! Poshmark "I bought 2 purses to get the shippin discount from the same seller. BOTH bags were sold as Leather. 1 bag still had the abee clearly stating "Simulated Leather" The..." Read more Miele - Product and service first class Miele "Have had two houses in the past twenty two years. First house dishwasher cook top and double oven. No issues. House from 12 years with counter top dishwasher and convection..." Read more